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作者：Ege, Matthew; Glenn, Jennifer L.; Robinson, John R.
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：We investigate whether reviews of transactional filings by the SEC unexpectedly constrain SEC resources, leading to lower quality comment letters for periodic reports. The Sarbanes-Oxley Act requires the SEC to review periodic reports (e.g., 10-Ks) at least once every three years. However, the SEC also reviews transactional filings (e.g., initial public offerings and acquisitions), which are unpredictable and often occur in waves. We find comment letters for periodic reports are of lower quali...
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作者：Bens, Daniel; Huang, Sterling; Tan, Liang; Wongsunwai, Wan
作者单位：INSEAD Business School; Singapore Management University; Virginia Polytechnic Institute & State University; Chinese University of Hong Kong
摘要：We exploit an influential 1991 Delaware court ruling to examine simultaneously two types of conservatism that play important roles in resolving creditor-owner agency conflicts: contracting conservatism and reporting conservatism. The ruling expanded managerial fiduciary duties in favor of creditors for Delaware-incorporated firms in the vicinity of insolvency. In those firms, following the ruling, debt contracts are less likely to include conservative adjustments to accounting numbers used for...
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作者：Becker, Sebastian D.; Messner, Martin; Schaeffer, Utz
作者单位：Hautes Etudes Commerciales (HEC) Paris; University of Innsbruck
摘要：Previous studies on accounting innovations emphasize the key role played by innovators and other core actors in theorizing and popularizing such innovations. This paper extends this literature by drawing attention to the role of actors who occupy a more peripheral position within the innovation-based field. We regard accounting innovations as strategic action fields, in which core and peripheral actors interact to shape the trajectory of the innovation. In contrast to core actors, peripheral a...
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作者：Guggenmos, Ryan D.; van der Stede, Wim A.
作者单位：Cornell University; University of London; London School Economics & Political Science; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Peking University
摘要：Creativity and innovation have been identified by senior executives as some of the most desired characteristics of corporate culture. Accordingly, managers strive to build these cultures within their organizations. However, research in psychology suggests that these attempts may have unintended negative consequences. In this study, I predict and find that managers in a more (versus less) innovative company culture will engage in higher levels of real earnings management (REM). I then test two ...
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作者：Daoust, Laurence; Malsch, Bertrand
作者单位：Universite de Montreal; HEC Montreal; Queens University - Canada
摘要：Auditees can play an active role in influencing staff auditors' professional judgment and skepticism. Yet, although it constitutes one of the main threats to auditor independence, very little is known about the means and extent of auditees' power during the audit engagement. To address this knowledge gap, our study focuses on a specific category of auditees, namely, auditees who have worked as auditors in large accounting firms. We interviewed 36 of these auditees and triangulated our findings...
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作者：Kang, Yoon Ju; Piercey, M. David; Trotman, Andrew
作者单位：University of Massachusetts System; University of Massachusetts Amherst; Northeastern University
摘要：The current audit environment encourages auditors to conduct defensive auditing procedures in lieu of using new, innovative, and potentially more effective audit procedures, due to concerns these procedures may be second-guessed in litigation or by audit inspectors such as the PCAOB. As a result, auditors may prefer traditional generally accepted procedures over innovative procedures that are potentially more effective. We test recent proposals that an Audit Judgment Rule (AJR) encourages the ...
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作者：Lambert, Tamara A.; Peytcheva, Marietta
作者单位：Lehigh University
摘要：Auditing standards task auditors with collecting sufficient appropriate evidence to form audit judgments. Yet, cognitive psychology documents a robust finding in which people evaluate a bundle of relevant, directionally consistent evidence as though averaging the strength of the components. In consequence, a bundle of evidence may be viewed as weaker evidence than the bundle's strongest evidence item alone. We experimentally examine whether this averaging effect occurs in an audit context, and...
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作者：Billings, Bruce K.; Moon, James R.; Morton, Richard M.; Wallace, Dana M.
作者单位：State University System of Florida; Florida State University; University System of Georgia; Georgia Institute of Technology; State University System of Florida; University of Central Florida
摘要：The executive compensation literature presumes that shareholders offer risk-averse managers stock options to entice them to take on more risk, resulting in riskier investment decisions and thus a greater return on investment. However, recent empirical work challenges this assumption, and theoretical research even argues that high levels of option-based compensation for generally under-diversified managers may actually lead to greater risk aversion. We evaluate the incentive structure of employ...
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作者：D'Augusta, Carlo; DeAngelis, Matthew D.
作者单位：Middle Tennessee State University; University System of Georgia; Georgia State University
摘要：We investigate whether accounting conservatism, which has been found to be effective in constraining management opportunism in other settings, constrains upward tone management (UTM) in the Management's Discussion and Analysis (MD&A) portion of the 10-K filing. We hypothesize that conservatism makes it harder for managers to opportunistically downplay bad news and magnify good news when discussing current performance. Consistent with this hypothesis, we find that UTM is negatively associated w...
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作者：Frankel, Richard; Kim, Bong H.; Ma, Tao; Martin, Xiumin
作者单位：Washington University (WUSTL); Seoul National University (SNU); Texas Tech University System; Texas Tech University
摘要：Using novel receivable-based loan data, we study the effect of aging-report loan covenants on borrowers' accounts receivable reporting quality. Our purpose is to highlight a channel that lenders use to obtain private information and to understand whether lenders' information acquisition affects the financial reporting quality of borrowers. Compared to receivable-based borrowers without aging-report requirements (control firms), borrowers with such requirements (test firms) increase their recei...
